It's a ponzi scheme because: 1. its deflationary meaning it will never have a real world application. 2. Holders are distributed a relatively high portion of the coin per transaction. 3. the tech doesnt back the marketcap/value BECAUSE of hype marketing. Every time it spikes, it crashes as big investors cash out, this is a neverending cycle until it inevitably doesn't recover.
It's a bad investment because: 1. The value of the coin needs to increase by either 10% or 20% for holders to profit. (Regardless its stupidly high) 2. High burn means minority win majority lose. 3. 10% transaction fees ALSO means different exchanges will never have consistent prices and you can't transfer between personal wallets without burning 10% 4. Safemoon holders have incentive to shill the project, don't be fooled by the hype and marketing.
Here's why it's NOT like other crypto projects: Bitcoin invented decentralised finance and blockchain technology it was the first of its kind. We also have decentralised supply chain management projects like VeChain, smart contract projects like Ethereum, projects linking smart contracts to real world events like ChainLink, decentralised internet projects that take our data away from massive corporations. These are just a few that are going to shape the future and have proven their value. Safemoon is 'i profit only if 20% more money flows into the project', nothing about it is innovative or valuable to society. The only project comparable to safemoon is doge, neither of which have a real world use case.
I'm not claiming its a scam, but it fits the definition of a ponzi scheme perfectly. And if you dont agree, you're probably an investor in denial. Regardless of what you see on social media, the MAJORITY lose in the end and thats not debatable.
If you want to 'get rich quick' learn how to leverage trade.
Please spread awareness of the dangers, its bringing alot of new people into the crypto space who dont know what they're dealing with, and they're losing their money.
